After a strong quarter: Dow Jones starts the new quarter firmer according to labor market data message
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The Dow Jones starts Wednesday trading 0.26 percent higher at 25,879.38 points.
The previous day on Wall Street had ended the strongest quarter since 1998 with premiums of 17 percent in the Dow Jones Index and 30 percent in the NASDAQ Composite. The rapid recovery followed the massive slump due to the corona pandemic.
The pandemic and its consequences for the global economy will remain the dominant issue on the stock exchanges in the third quarter. Investors continue to move between fears of further virus spread and hope for a quick economic recovery – thanks to government support measures and an ultra-relaxed one Monetary policy of central banks.
Especially in the United States, the number of newly infected people is increasing rapidly. Some US states even have record numbers. On Tuesday, US medical professional and presidential advisor Anthony Fauci warned of a massive increase in infections. The number of new infections every day in the United States could increase from currently more than 40,000 to 100,000, said Fauci at a hearing in the US Senate.
Forerunner to US government job report
On the economic side, US companies increased their workforce significantly in June. In addition, the data for May was revised spectacularly from a job loss in the millions to an increase in the millions. As the labor market service provider Automatic Data Processing Inc (ADP) reported, 2,369 million jobs were created in June compared to the previous month. Analysts had forecast an increase of 2.5 million.
According to the revision, 3.065 million jobs were added in May. Originally, ADP had reported a loss of 2.760 million.
Editorial staff Forex-news.com.net / Dow Jones Newswires
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